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Monaco’s Kay Toolson Announces His Retirement

May 4, 2011 by · 3 Comments 

Kay Toolson

Kay Toolson

Kay Toolson, president of Monaco RV LLC, will retire the end of June.

After 25 years at the helm of Monaco RV and Monaco Coach Corp., Toolson will step away from the day-to-day operations, but still be involved in special projects and take an advisory role in the company, according to a news release.

A native of Smithfield, Utah, Toolson joined the recreational vehicle industry in 1972 as product manager for Kings Highway Mobile Industries in Los Angeles, where he later held the positions of national sales manager and vice president.

In 1982, he joined Anaheim, Calif.-based motorhome manufacturer Executive Industries as a minority owner and executive vice president of operations, a position he held until 1986.

Toolson joined Oregon-based Monaco Coach Corp. in 1986 and completed a management buyout of the company in 1993, and took the company public that same year. He served as president for the company from 1986 to 2000, CEO from 1986 to 2009, and as chairman from 1993 to 2009.

During his tenure with Monaco , the company grew from a small, specialty RV manufacturer recording $17 million in annual revenue to a 5,70-employee company producing a broad spectrum of RVs and annual revenue in excess of $1.4 billion.

The company filed for bankruptcy in 2009 and was subsequently purchased by Navistar Inc. Since that purchase, Toolson has served as president of Monaco RV.

Monaco RV’s current management team will remain, reporting to William H. Osborne, the newly named vice president of custom products for Navistar Inc. In this role, Osborne will have accountability for the Monaco RV and Workhorse business units.

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Osborne to Head Monaco & Workhorse Units

May 3, 2011 by · Leave a Comment 

William Osborne

William Osborne

Navistar Inc. announced today (May 3) that William H. Osborne has been named vice president of custom products. In this role, Osborne will have accountability for Navistar’s Monaco RV and Workhorse business units, according to a news release.image001

Osborne was appointed to Navistar’s board of directors in September 2009 and was a member of the board’s finance committee. He resigned his board position to assume his new role.

Osborne was previously president and CEO of Federal Signal Corp. and a veteran automotive industry executive.

“We are fortunate to have Bill join our team and apply his knowledge of the industry to our business,” said Daniel C. Ustian, Navistar chairman, president and CEO. “As a former member of Navistar’s board of directors, Bill has unique insights into our company. His manufacturing and automotive experience and expertise will be of great value to Navistar as we continue to diversify and expand globally into new marketplaces.”

Osborne, 51, spent more than 30 years in the automotive industry. Prior to joining Federal Signal in September 2008, Osborne served in a number of senior-level positions with Ford Motor Co., most recently as president and CEO of Ford of Australia. Previously, he served as president and CEO of Ford of Canada. Osborne’s earlier assignments included a variety of roles in product design, development and engineering. Before his career at Ford, Osborne held positions at Chrysler and General Motors.

Osborne holds a bachelor’s degree in mechanical engineering from Kettering University, a master’s degree in engineering from Wayne State University and an M.B.A. from the University of Chicago.

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Navistar/Monaco Hosts NASCAR Trivia Promo

June 28, 2010 by · Leave a Comment 

ec96e95c-4Think you know NASCAR?

Navistar Inc. and Monaco RV LLC challenge NASCAR fans to take the Mike Skinner Trivia Contest.

Navistar Inc., Monaco RV’s parent company and longest-running team sponsor in the Truck Series garage, is making a bold run at the 2010 championship with the No. 5 Toyota Tundra driven by Mike Skinner for Randy Moss Motorsports.

“Many of our customers are NASCAR fans and so is Monaco RV,” the company states on its website. “We’re excited about sponsoring Mike Skinner and being a part of one of the original series driver’s winning team. So join in the fun and be a winner yourself by participating in Monaco RV’s Mike Skinner Trivia Contest. This is your opportunity to win one of five collectible Mike Skinner autographed Monaco hats.”

Click here to learn more about the contest.

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Navistar Ups the Ante in 2010 Diesel Engine Fray

May 12, 2010 by · Leave a Comment 

Navistar logoAs the competition heats up in the diesel engine business with engine builders introducing revamped designs based on strict new EPA emissions regulations, Monaco RV LLC parent Navistar Inc., Warrenville, Ill., has announced a new long-term supply agreement for Navistar to be the principal provider of International-brand commercial trucks to J.B. Hunt Transport Services Inc. through 2014.

This is a development about which Oregon-based Monaco’s management team will surely be reminding prospective wholesale and retail clients in the months ahead, as it works to gain an edge in the resurgent motorhome business with coaches powered by Navistar’s MaxxForce engines equipped with “Advanced EGR” technology.

“We’re excited to once again be J.B. Hunt’s principal commercial truck provider and look forward to delivering to them International trucks with MaxxForce engines as well as the full support of our parts and dealer network,” said Jack Allen, president of Navistar’s North American truck group.

“J.B. Hunt is an industry leader and one of the most metric-driven transportation companies in the world,” Allen added. “They have tested our ProStar with MaxxForce 13 engine and this agreement demonstrates their confidence in the fuel economy, overall performance and no-hassle approach of our MaxxForce Advanced EGR engines.”

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Navistar, Thor Reach Bus Supply Agreement

March 23, 2010 by · Leave a Comment 

IC Bus LLC, a wholly owned subsidiary of Navistar Inc. and the nation’s largest integrated manufacturer of school buses, today (March 23) announced a new supply agreement with Thor Industries Inc., the world’s largest manufacturer of recreational vehicles and a major builder of commercial buses, according to a news release.

Through the agreement, IC Bus will be the exclusive provider of mid-size, cut-away chassis to Thor Industries. As a result, Thor Industries’ Champion, ElDorado National, General Coach and Goshen Coach vehicle brands will be built exclusively on the new IC Bus brand TC Series chassis.

“The new TC Series chassis is a world-class, top-notch chassis,” said John McKinney, president, IC Bus. “Through this agreement, we’re able to provide Thor Industries and its customer base with a reliable, customer-friendly chassis — along with outstanding service and support — through the largest, most comprehensive dealer network in the industry.”

The TC Series chassis will be powered exclusively by International MaxxForce engines featuring Advanced EGR (exhaust gas recirculation) emissions technology. These engines use an in-cylinder approach to meeting EPA2010 emissions with a goal of providing the most customer-friendly powertrain in terms of fuel economy, performance and overall ownership costs. With MaxxForce Advanced EGR, customers won’t have the worry or inconvenience of finding or filling liquid urea, providing customers with a no-hassle solution that keeps responsibility for emissions compliance with the manufacturer, not the vehicle owner or driver. As a result, IC Bus and Thor Industries are able to deliver high-quality, differentiated products that stand apart from the competition.

“We’re proud to work with IC Bus to deliver customer-friendly products to the market,” said Andrew Imanse, group president, Thor commercial bus division. “This agreement with IC Bus allows us to improve efficiencies, while providing our customers with best-in-class chassis and engine technologies.”

The TC Series chassis is available to customers in the United States and Canada and is supported by the IC Bus  dealer network, the largest bus dealer network in North America.

IC Bus  LLC of Warrenville, Ill., is an affiliate of Navistar International Corp. The nation’s largest integrated manufacturer of school buses, IC Bus is a global leader in passenger protection, chassis design, engines and ergonomics. The company is also a producer of commercial buses. All IC Bus buses are sold, serviced and supported through a renowned dealer network that offers an integrated customer program encompassing parts, training and service. Additional information is available at www.icbus.com.

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Navistar Inc. Shows All-Electric Truck on Capitol Hill

September 30, 2009 by · Leave a Comment 

Members of Congress today (Sept. 30) were shown an early result of federal stimulus investments paying dividends – an all-electric commercial truck from Navistar Inc. that does not depend on foreign oil, is already generating jobs and offers real potential to usher in a new wave of U.S.-led clean vehicle technologies.

With the help of a $39 million U.S. Department of Energy grant announced by President Obama in August, Navistar will build these high technology trucks, designed for maximum efficiency in urban environments. Navistar intends to build 400 all-electric delivery trucks in 2010 at its facility in Elkhart County, Ind., and expects within a few years to be producing several thousand vehicles annually as the market grows, according to a news release.

“At a time when the economy is struggling, supporting breakthrough technologies like Navistar’s all-electric truck will create jobs for our state and help free us from our dependency on energy imports,” said Sen.Evan Bayh , D-Ind. “I was proud to accompany President Obama to Wakarusa, Ind., in August to announce the federal commitment to build this all-electric vehicle in Elkhart County. Indiana continues to be a leader in the development and production of advanced technologies that will provide important benefits to the entire nation. Hoosiers have been at the epicenter of today’s automotive industry, and this technology gives us an opportunity to be at the forefront of tomorrow’s as well.”

The U.S. House of Representatives recently passed legislation allowing for a program of research, development, and commercial application of clean vehicle technologies at DOE (H.R. 3246, Advanced Vehicle Technology Act of 2009). The bill now moves to the Senate for consideration.

The collaboration between Navistar and DOE demonstrates the importance of business and government working together to make energy efficient vehicles a reality, and the continued need for research and development of advanced commercial vehicle technologies.

“The all-electric commercial truck is a concrete example of advanced technology that will be swiftly brought to market with government incentives, just like diesel-hybrid trucks and school buses,” said Greg Elliott, senior vice president, Navistar. “We must continue to invest together for the next generation of advanced vehicles with innovative aerodynamic design and greater hybrid and electric market penetration across the nation.”

This zero tailpipe emission electric commercial truck is the latest of Navistar’s “green” vehicle advancements. The company was an early pioneer in diesel hybrids with the International DuraStar truck and the IC Bus CE Series plug-in hybrid school bus.

The all-electric vehicle would primarily be used by fleets in congested, urban, light duty applications where stop-and-go driving would otherwise consume a large amount of fuel.

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Monaco Inks Deal to Sell Assets to Navistar

April 24, 2009 by · Leave a Comment 

Monaco Coach announced today (April 24) that it has signed a definitive agreement to sell substantially all of the company’s RV  manufacturing assets to a unit of Navistarmonaco-logo Inc. for approximately $52 million. The Monaco board of directors  unanimously approved the transaction.

 The closing of the proposed transaction is scheduled to occur no later than June 1, subject to certain closing conditions and completion of the bankruptcy court approval process, including the auction process and the entry of a final non-appealable sale order of the bankruptcy court pursuant to Section 363 of Title 11 authorizing the transfer of the purchased assets to Navistar. Monaco filed for Chapter 11 bankruptcy relief on March 5 in Delaware.

The transaction includes certain manufacturing facilities located in Indiana and Oregon. In addition, Navistar will acquire all brands, intellectual property, inventories and equipment relating to Monaco’s motorized and towable recreational vehicle segments.

Excluded from the transaction are the Motorhome Resorts segment, the Roadmaster Cargo Trailer business and several industrial properties. Monaco continues to work with other interested parties regarding the acquisition of its Motorhome Resorts segment and other assets held for sale.

“We are excited to move forward with the tremendous resources of Navistar, Inc. supporting our great products,” said Kay Toolson, Monaco chairman and CEO. “Everyone at the company is ready and committed to again build the highest quality RVs in the industry, offer the best customer support and bring jobs back into the communities in which we operate. We appreciate the patience of our employees, dealers, suppliers and RV owners as we navigated through this challenging environment.”

Navistar, with nearly $15 billion in annual sales, is a leading global manufacturer of commercial vehicles, military vehicles, diesel engines and related parts and services.

Monaco cautioned that it presently appears there will be no proceeds ultimately available to the company from this transaction and other potential asset sales sufficient, after payments to creditors, to result in any distribution to the shareholders of Monaco.

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Navistar Offers to Buy Monaco Assets for $50M

March 26, 2009 by · Leave a Comment 

Navistar Inc. would acquire certain RV-related assets of Monaco Coach Corp. and assume certain liabilities associated with that business under a non-binding letter of intent signed this week, Monaco announced late today (March 26).

Navistar, with nearly $15 billion in annual sales, is a leading global manufacturer of commercial vehicles, military vehicles, diesel engines and related parts and services.

The letter of intent contemplates that Monaco and Navistar will work to sign a definitive asset purchase agreement during early April, according to the Monaco release. Following the completion of due diligence and the bankruptcy court approval process, including the auction process, the parties intend to close the transaction shortly after obtaining the entry of a final non-appealable sale order of the bankruptcy court pursuant to Section 363 of Title 11, authorizing the transfer of purchased assets to Navistar.

Monaco continues to work with other interested parties regarding the acquisition of its Motorhome Resorts segment and other assets held for sale.

“We look forward to working with Navistar to complete this transaction and ultimately become a part of one of the nation’s most respected companies,” said Kay Toolson, Monaco chairman and CEO. “This is a great opportunity for our employees, dealers, suppliers and the communities in which we operate. We look forward to continuing the Monaco Coach brands and our legacy of producing quality and innovative recreational vehicles for our owners.”

Headquartered in Coburg, Ore., Monaco has manufacturing facilities in Oregon and Indiana and offers a variety of RVs, from entry-level priced towables to custom-made luxury models under the Monaco, Holiday Rambler, Safari, Beaver, McKenzie and R-Vision brand names.

“If we are able to reach agreement, the purchase of certain Monaco assets would fit our strategy of leveraging our assets to expand our diesel business, serve the end customer and would also complement our Workhorse custom chassis business,” said Jack Allen, president of Navistar’s North American truck group. “Any asset purchase would fall within our current capital expenditure program for fiscal 2009.”

The proposed purchase is for Monaco assets, not its stock.

Proceeds of the purchase will go toward Monaco’s secured creditors – its two lenders, Bank of America and Abelco LLC.

Based on information Monaco provided in bankruptcy filings earlier this week, the $50 million amount does not appear to be sufficient to meet any of the company’s unsecured creditors. The filing estimated that the company had between 25,000 and 50,000 creditors.

Daniel C. Ustian, Navistar chairman, president and CEO, sits on the Monaco board. Navistar and Monaco are joint owners of the Monaco chassis plant in Elkhart, Ind., with Navistar owning a majority share.

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